The NYC Housing Preservation & Development has launched a lottery for 288 income-restricted units in a 71-story luxury building in the Queens Plaza section of Long Island City.
The development, called Sven, is located adjacent to the historic Clock Tower at 29-59 Northern Blvd., and features income-restricted units that range in price from $2,189 for a studio to $3,843 for a three-bedroom unit.
All of the income-restricted units are for prospective tenants who earn up to 130 percent of the area median income. For instance, the most inexpensive studio—at $2,189 per month—is for individuals who make up to $75,052. Meanwhile, the income limit for a family of 7 seeking a three-bedroom unit is $192,400.
The lottery is for 50 studios; 188 one-bedroom units; 41 two-bedroom units; and 9 three-bedroom units.
The building consists of 928 units, with 670 being market rate units. Leasing has already begun for the market rate units. The Durst Organization, which is the developer of the building, is handling the leasing of the market rate units in-house.